The following costs result from the production and sale of 4,700 drum sets manufactured by Tight Drums Company for the year ended December 31, 2015. The drum sets sell for $320 each. The company has a 35% income tax rate.

Variable production costs
Plastic for casing	$	145,700
Wages of assembly workers		451,200
Drum stands		188,000
Variable selling costs
Sales commissions		136,300
Fixed manufacturing costs
Taxes on factory		8,000
Factory maintenance		16,000
Factory machinery depreciation		76,000
Fixed selling and administrative costs
Lease of equipment for sales staff		16,000
Accounting staff salaries		66,000
Administrative management salaries		146,000

1. Prepare a contribution margin income statement for the company

2. Compute its contribution margin per unit and its contribution margin ratio